Industry update

Basel III prudential roadmap update: feedback and next steps

We have published our feedback paper summarising and responding to your views on our Basel III proposals regarding:

  • advanced approaches to credit risk and the output floor
  • systemic importance and buffers
  • the Net Stable Funding Ratio (NSFR)
  • the leverage ratio

Feedback summary

Respondents raised no significant concerns with our proposals but requested clarifications, which are addressed in Section 2 of the feedback paper. These points were also discussed with respondents to ensure that all queries were resolved.

Next steps

  • advanced approaches and the output floor: we will follow the Prudential Regulation Authority’s (PRA) near-final rulebook
  • systemic importance and the systemic buffer: banks serving more than 9,000 Jersey retail clients will be designated highly systemic, and a 1.5% systemic buffer will apply to highly systemic Jersey incorporated banks , which will also be subject to NSFR and leverage ratio requirements
  • the NSFR and leverage ratio requirements: will be based on existing PRA requirements

Updated timeline

The Basel III roadmap now reflects the UK’s decision to delay the implementation of Basel III until 1 January 2027.

We will publish another consultation in January 2026 to address areas related to the PRA’s recent changes.

Read our full feedback paper on Basel III Prudential Roadmap: advanced approaches, systemic importance, the NSFR and the leverage ratio.